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Section 740 Companies and Allied Matters Act (CAMA) 2020

Section 740 CAMA 2020

Section 740 Companies and Allied Matters Act is about Extended effect of penalty for offence of fraudulent trading. It is under Chapter 29 (Miscellaneous and supplemental application of this part) of the Act.

The provisions of section 672 (3) of this Act which imposes a penalty for certain offences connected with fraudulent trading discovered on the winding-up of a company shall extend and apply to cases where fraudulent trading is discovered in circumstances other than on the winding-up of a company.

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See also  Section 559 Companies and Allied Matters Act (CAMA) 2020

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